Understand what Cashback is, how it works and what are the advantages

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Understand what Cashback is, how it works and what are the advantages

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In Brazil, loyalty programs are not exactly recent, but the strengthening of e-commerce has led stores to seek alternatives to retain and attract customers, generating good shopping experiences. Which brings us to the question: do you know what is cashback?

This type of benefits program creates rewards for each purchase made by the consumer. Generally, a percentage of the purchase price is converted into cash that can be used for future purchases, in the same store.

In other words: you receive a part of what you paid to invest in another product or service in the next purchase.

But it is important to know in depth what cashback is so that you can enjoy the best of this rewards program. Check out everything about it here!

What is cashback?

Translating from English, cashback literally means “cash back”. But for retailers, the concept acquired the molds of a customer loyalty system, in which a percentage of each purchase is reverted in credit for future acquisitions in the same store.

This credit can even be accumulated through various bonuses or even in the form of money deposited in your checking account.

Cool huh? But before learning how to use cashback money, it is worth understanding the reason for its implementation. After all, as we already mentioned, when we know what cashback is, we understand that it is a practice similar to that used in the scoring programs offered by several commercial establishments.

Thus, in addition to savings on future purchases, stores guarantee a more positive and recurring experience for their consumers.

What are its benefits?

In practice, there are other relevant points that can be cited to complement the benefit mentioned above. Are they:

  • increased customer loyalty, since a little savings is always welcome, and positive experiences will ensure that the consumer buys again with the retailer;
  • more visibility for the brand, considering that those who already know what cashback is tend to opt for the benefit;
  • access to valuable user data, allowing stores to plan new and increasingly personalized strategies to impact their target audience;
  • increase in sales and also in billing.

Interesting, isn't it? But how does this translate into your day to day?

How does cashback work?

Now that we have seen what cashback is, let's get to know the details of this practice. It can be applied both by physical stores and e-commerces and in the most varied niches on the market.

But in general, the process required to participate in a cashback system is as follows:

  • make your registration on the cashback partner sites of the stores you usually buy;
  • search, on the cashback site itself or directly in stores, for products or services that offer a return of a percentage of the value;
  • make the purchase.

That simple. Once the transaction is completed, it is necessary to wait a few days (which varies according to each cashback company) for the credit to be debited from your account, which can be used in the way you prefer within the rules of each institution.

Physical stores

The procedure for using cashback in physical stores is slightly different. First of all, it is necessary to check if the retailer has such a loyalty program. If so, an exclusive machine will be used – hence, the possibility of using the credit card with cashback.

A positive point of the face-to-face purchase is that the credit, in these situations, is automatically discounted in the registered account. Although a confirmation has to be carried out by the system before releasing the credit to the consumer.

How to get the best out of a cashback system?

For the consumer, knowing what cashback is is only the first step in an ongoing process of researching the best companies of its kind, the benefits that best meet their needs and the bonuses that truly add value to the shopping experience.

So that you do not worry about obstacles along the way, we have separated some interesting points of attention before you decide to make any purchases through the cashback system.

Check the credibility of the company

This can be done easily and all over the internet. To do this, visit the official website of the company, its social networks or even specialized sites, such as Reclame Aqui. It is important to assess what other consumers are saying about them, which can guide your decision making.

See too: Improper charging: what to do to solve this problem

Review system rules

Among the key points that you should be more oriented to, check if there is a minimum redemption amount, what are the forms of refund, which are the partner stores and also if your credits have an expiration date (which prevents their use after that period).

Don't buy on impulse

Make sure you really need that purchase. Don't let yourself be guided only by the cashback benefit – since the program acts as an incentive to consumption -, exclusively, and always check if you have the need for that product or service or just want to buy it to meet an impulse.

Also, so that you do not turn your shopping habits into villains of your budget, save it for later reading another article from us. This time, with a lot of home economics tips to make your budget pay off!

Have goals

When you know what cashback is, you can consider this program a real ally. For example: it is possible to accumulate your cashback in such a way that your credit, in the future, can be used – partially or fully – to purchase a high-priced product.

Thus, you save and still manage to make purchases in a strategic way and driven by the consumption you need, on a daily basis. Everyone wins that way.

What are the main cashback companies in Brazil?

Although the cashback model is relatively new in the country, there are already a good number of specialized companies and from which you can enjoy its great benefits. Here are some of them:

There is no lack of options, so for you to put into practice everything we saw throughout this article, do you agree?

So, now that you definitely know what cashback is, what its benefits are and which companies are on the rise in the market, take the time to share this post on social networks. That way, more people can learn like you and get more savings on their future purchases!

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